An additional $10 million was raised with the inclusion of Mirai Creation Investment Ltd. Partnership, of which the principal investors are Toyota Motor Corp. and Sumitomo Mitsui Banking Corp. Additionally, current Autotalks' investors increased their investment in the company.
Autotalks said that with the United States Department of Transportation having issued a notice for proposed rule making (NPRM) global automotive companies are now moving to incorporate machine communications.
With several design wins unders its belt Autotalks is preparing for mass production of its V2X chipsets starting in 2019, the company said and this investment would help with that and with developing communications for both connected and autonomous vehicles.
"The funding round represents a real vote of confidence both in the V2V market and in Autotalks," said Hagai Zyss, Autotalks' CEO, in a statement.
Autotalks has been present in the Silicon 60 list of emerging startups for the last two iterations.
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